How would you like to look at a chart, draw a trendline, and enter a trade when a certain condition is met and have the EA issue the order and managed it? Well TrendMeLeaveMe by waddahattar is one of the most innovative uses of an EA that I have come across.
As simple as that, by drawing a trendline and naming the trendline "buystop" or "sellstop", the EA will monitor the prices and when it hits the trendline, a stop order will be issued with the specified TP and SL This is certainly a neat tool to put into your list of arsenal.
Or try a variation of this by dreamer3 called MTrendLine. After you have placed a pending order, draw a trendline and name it after the ticket no of the pending order you have just placed. The pending order get modified according to the trendline direction. Very similar to TrendMeLeaveMe but you get to issue the pending order first for MTrendLine whereas TrendMeLeaveMe will isssue the pending order for you. Both will modify the pending order price level according to the trendline drawn.
Hope you are intrigued by this method of doing your trades especially when you are the type the uses this kind of strategy.
One important point though. Look through the codes of these EAs, test them out, and demo them. You might find some faults with their implementations and you may need to correct them before going live with them.
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